Statutory Durable Power of Attorney - Durable Provisions
STATUTORY REFERENCE
ALL REFERENCES ARE TO THE NEW YORK CONSOLIDATED LAWS
DURABLE GENERAL POWER OF ATTORNEY, NON-DURABLE GENERAL POWER OF ATTORNEY and
DURABLE GENERAL POWER OF ATTORNEY EFFECTIVE AT A FUTURE TIME
(Chapter 24-A, Article 5, §§ 1501 through 1506 )
I. General Information (Durable, Non-Durable,
and Effective at a Future Time)
A power of attorney is a "statutory short form power of attorney",
only when it meets the Statutory requirements and has been duly acknowledged.
The power of attorney must contain the exact wording of the form
set forth in in the statute, except that any blank space to the left of
any one or more of lettered subdivisions may be initialed by the principal.
Any such lettered subdivisions are deemed chosen by the principal and are
effective with respect to the powers conferred in the particular sections.
If more than one agent is designated by the principal, such agents
must act jointly or separately consistent with the interpretive instructions
contained in such statutory short form power of attorney.
A "statutory short form power of attorney" may contain modifications
or additions of the types described in § 5-1503 (see below).
Modifications (§ 5-1503)
A power of attorney which satisfies the statutory requirements is
not prevented from being a "statutory short form
power of attorney", or a "statutory short form power of attorney effective
at a future time", because it also contains additional language which:
- Eliminates from the power of attorney one or more of the powers enumerated
in the statutory form.; or
- Supplements one or more of the powers enumerated in one or more of
the constructional sections of the statutory form.; or
- Makes some additional provision which is not inconsistent with the
other provisions of the statutory short form power of attorney or of the
statutory short form power of attorney effective at a future time.
Durability
The subsequent disability or incompetence of a principal does not
revoke or terminate the authority of an attorney-in-fact who acts under
a power of attorney in a writing executed by such principal which contains
the words "This power of attorney shall not be affected by my subsequent
disability or incompetence", or words of similar import showing the intent
of such principal that the authority conferred shall be exercisable notwithstanding
his or her subsequent disability or incompetence.
II. Durable General Power of Attorney
Form
The use of the statutory form is lawful and is construed as a statutory
short form power of attorney. However, the use of any other or different
form of power of attorney is permitted.
Execution
The execution of a statutory short form durable power of attorney
must be duly acknowledged by the principal before an officer authorized
to take acknowledgments.
Requirements
To be valid, the power of attorney must be written, typed or printed
using letters which are in legible writing or clear type of no less
than twelve point in size or, if in writing, a reasonable equivalent of
the typed requirements.
The power of attorney MUST contain, in bold face and in upper case
or upper and lower case type or a reasonable equivalent thereof the word "CAUTION"
which is printed in bold face type at the beginning of the statutory form
and the "DIRECTIONS" which are printed in bold face type immediately before
subdivisions (A) through (Q) of the statutory form.
III. Non-Durable General Power of Attorney
Form
The use of the statutory form is lawful and shall be construed as
a statutory short form power of attorney. However, the use of any
other or different form of power of attorney is permitted.
Execution
The execution of a statutory short form durable power of attorney
must be duly acknowledged by the principal before an officer authorized
to take acknowledgments.
Requirements
To be valid, the power of attorney must be written, typed or printed
using letters which are in legible writing or clear type of no less
than twelve point in size or, if in writing, a reasonable equivalent of
the typed requirements.
The power of attorney MUST contain, in bold face and in upper case
or upper and lower case type or a reasonable equivalent thereof the word "CAUTION"
which is printed in bold face type at the beginning of the statutory form
and the "DIRECTIONS" which are printed in bold face type immediately before
subdivisions (A) through (Q) of the statutory form.
IV. Durable General Power of Attorney Effective at a Future
Time
General Information
An instrument granting a power of attorney may limit that power
to take effect at a specified future time.
An instrument granting a power of attorney may limit such power
to take effect upon the occurrence of a specified contingency, including,
but not limited to the incapacity of the principal. The instrument
must require that a person or persons named in the instrument declare,
in writing, that such contingency has occurred.
Durability
The disability or incompetence of a principal does not revoke or
terminate the authority of an attorney-in-fact who acts under a power of
attorney executed in writing by the principal in accordance with the statutory
requirements if the instrument contains the words "This power of attorney
shall not be affected by my disability or incompetence", or words of similar
import showing the intent of the principal that the authority conferred
shall be exercisable notwithstanding the principal's disability or incompetence.
Form
The use of the statutory form is lawful and shall be construed as
a statutory short form power of attorney. However, the use of any
other or different form of power of attorney is permitted.
Execution
The execution of a statutory short form durable power of attorney
must be duly acknowledged by the principal before an officer authorized
to take acknowledgments.
Requirements
To be valid, the power of attorney must be written, typed or printed
using letters which are in legible writing or clear type of no less
than twelve point in size or, if in writing, a reasonable equivalent of
the typed requirements.
The power of attorney MUST contain, in bold face and in upper case
or upper and lower case type or a reasonable equivalent thereof the word "CAUTION"
which is printed in bold face type at the beginning of the statutory form
and the "DIRECTIONS" which are printed in bold face type immediately before
subdivisions (A) through (Q) of the statutory form.
